Gambling Plus Minus
Moneylines can come in ‘plus’ (favourites) and ‘minus’ (underdogs) formats, so there are two different formulas to convert moneylines into percentages. For ‘plus’ moneylines, the formula is: 100 /. The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds. In terms of the spread, the ' - ' always refers to the favorite and the ' + ' always refers to the underdog. For example, you can bet the Dallas Cowboys as a -7 point favorite to beat the Green Bay Packers or the Packers as a +7 point underdog. The plus and minus sign are predictive of which team is more likely to win the game, straight-up. Of course, when the point spread is taken into account, the favorite and the underdog will each have close to a 50% chance of covering the spread. How to make an over/under bet with American odds The over/under bet is very easy to explain. Again, with all kinds of betting, the minus-sign means a favorite, with the plus-sign designating an underdog. The Twins are +165. That means you win $165 for every $100 you bet. When you see a plus-sign with any number, that number is what you win for every $100 you bet. The minus and plus signs are really important to pay attention to. Along with the number, they tell you tons of information about the bet and the match. Keep reading for more detailed explanations of what the plus and minus signs mean and how to read them. If you like betting on the go, check out which are the best sports betting apps available.
Sorry, but there's a bit of math involved when it comes to calculating sports betting value.(Photo credit: DonkeyHotey / Foter / CC BY)
Being able to convert betting odds into percentages is a major part of knowing how to read odds.
By knowing the percentage of the time you need to win a bet to break even, you can decide whether it is a smart bet to make. If you believe something has an 80% chance of occurring but the odds suggest it has a 50% chance of occurring, you have a positive expectation wager. If you believe something has an 80% chance of occurring but the odds suggest it has an 85% chance of occurring, it’s a bad bet to make because you have no edge.
Below are the formulas to convert moneyline betting odds to percentages, convert fraction betting odds to percentages, and convert decimal betting odds to percentages.
How to convert moneyline betting odds
Moneylines can come in ‘plus’ (favourites) and ‘minus’ (underdogs) formats, so there are two different formulas to convert moneylines into percentages.
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For ‘plus’ moneylines, the formula is: 100 / (Moneyline + 100)
If the moneyline is +110, the formula would look like this:
100 / (110+100) = 100/210 = 0.476
Multiply your end result (0.476) by 100 to get the percentage: 47.6%
For ‘minus’ moneylines, the formula is: Moneyline / -(100 – (Moneyline))
If the moneyline is -130, the equation would look like this:
-130/ – (-130 -(-100)) = -130 / -230 = 130/230 = 0.565
Multiply your end result (0.565) by 100 to get the percentage: 56.5%
How to convert fraction betting odds
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Fraction betting odds are easier to convert into an implied winning percentage.
For fraction betting odds, the formula is: Denominator / (Denominator + Numerator)
If the fraction betting odds are 11/10, the formula would look like this:
10 / (11+10) = 10 / 21 = 0.4761904
Multiply your end result (0.4761904) by 100 to get the percentage: 47.6%.
How to convert decimal betting odds
Gambling Plus Minus 50
Decimal odds are the easiest to convert into a percentage.
For decimal betting odds, the formula is: 1 / decimal odds
If the decimal betting odds are 2.10, the equation would look like this:
1 / 2.10 = 0.4761904
Plus Minus Sign On Keyboard
Multiple your end result (0.4761904) by 100 to get the percentage: 47.6%.